document the limits of the shadow bank substitution margin: shadow banks substitute for traditional—deposit-taking—banks in …Bank balance sheet lending is commonly viewed as the predominant form of lending. We document and study two margins of … quantitative consequences of several policies on lending volume and pricing, bank stability, and the distribution of consumer …

and central bank conservatism on economic performance. Several striking conclusions emerge. In relatively centralized … of central bank conservatism. A radical-populist central banker who cares not at all about inflation (alternatively, who …

With policy rates near the zero bound, the Bank of Japan (BoJ) has introduced a series of unconventional monetary …

these operations. Despite a vast literature on the topic, central bank approaches and practices vary considerably. In this …